China’s base oils imports up 17% in Dec on restocking activity

13 February 2013 04:23  [Source: ICIS news]

SINGAPORE (ICIS)--China imported a total of 173,453 tonnes of base oils in December, up by 17% from November as a result of stock replenishing activity ahead of the Lunar New Year holiday in early February, market sources said.

The majority of imports were to Tianjin and Nanjing ports, which saw 51,552 tonnes and 51,465 tonnes of cargoes respectively in December, a Singapore trader said. The rest of the imports were to Huangpu and Hangzhou ports among others.

The majority of base oils were imported from Singapore, South Korea and Taiwan, the trader added.

A second Singapore trader, citing Chinese ports data, said that the majority of imports in December were bought by Chinese companies such as Kepai Tianjing Lubricating Oil with 17,158 tonnes of base oils, Zhejiang Shell Chemical Industry & Petroleum with 16,945 tonnes and Shell Zhuhai Lubrication with 11,073 tonnes of base oils.

By: Serena Seng

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